After suffering losses from the ASII as the SL point was touched, finally I realized that I didn't suppose to put a too close stop loss, as it might harm our profit. So, we can conclude that doing a close stop is only for some not so good stock, unlike ASII, which is a great one.
But actually, I didn't stop any losses from ASII as I believed that it is still in a good position. And now, I still recommend to Buy & accumulate ASII from now on, as a very good chart is shown.
Based on the chart pattern, ASII seems to be forming a "Double Bottom pattern", which will be confirmed at the level of 49150. If the price broke out this level with a huge volume, then a re-accumulation of buy is quite wise. The upward potential is around 5-7.5% or even more.
The other indicator that is still showing a good condition is the EMA Crossover system as the system is showing that the "golden cross" is almost happen, as what I predict that the golden cross will happen when it closes at 49150 too.
The other oscillators are showing almost all oscillators I use is showing a positivesignal to this stock, from MFI, CCI, Stochastic, RSI & also William's%R. Yet, the MACD seems to be doing a bottom reversal. In addition, based on candle stick pattern analysis, that the last 3 candles are showing a very nice pattern, that the last 2&3 is showing a Bullish Engulfing Pattern, yet the last one candle is showing a White Marubozu which are bullish reversal pattern & bullish pattern .
Rating: Buy; Entry: At any open price, TP: 51750-52050, SL: 46000-46150
Happy Investing^^
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